The central bank: China has no intention or need to gain a competitive advantage in international trade through currency devaluation.

People's Bank of China spokesperson and deputy governor Zou Lan stated at a press conference held by the State Council Information Office on January 15 that China's exchange rate policy is clear and consistently adheres to the principle of market playing a decisive role in the formation of the exchange rate, maintaining the basic stability of the Renminbi exchange rate at a reasonable and balanced level. China is a responsible major country, and it is unnecessary and has no intention to gain a competitive advantage in international trade through currency devaluation.